"A source close to the situation pointed out that "nothing is imminent" with regard to a potential deal, adding that pieces involved are still being discussed. Trade talks between the Timberwolves and several teams pursuing Love, including the Celtics, are expected to intensify leading up to the June 26 draft.

"Like anything else, they're going to say, 'We'll wait until the last minute to see if anyone can up the ante,' " a league source said.

Holmes added that his source said Thompson is the player Minnesota "has always wanted from the beginning."

The Celtics have reportedly offered the Wolves the No. 6 and No. 17 picks in the upcoming draft, a future No. 1 pick and either Jared Sullinger or Kelly Olynyk, but reports have indicated even that might not be enough to sway Minnesota.

As for a possible trade between Minnesota and the Warriors, ESPN.com noted that, according to sources, the Wolves are looking to get a future first round pick and possibly forward Harrison Barnes in a Thompson-Love deal.